Global smartphone shipments increased by 2.4% year-over-year in the fourth quarter of 2024, reaching 331.7 million units, according to the latest data from market intelligence firm International Data Corp. (IDC). This is the sixth quarter of growth, with total shipments for 2024 reaching 1.24 billion units, up 6.4% from the previous year.
“The strong growth witnessed in 2024 proves the resilience of the smartphone market as it occurred despite lingering macro challenges, forex concerns in emerging markets, ongoing inflation, and lukewarm demand,” Nabila Popal, senior research director for Worldwide Client Devices at IDC, said in a statement.
Vendors achieved growth through targeted strategies, including promotions, interest-free financing, and aggressive trade-in offers, which boosted premium and budget devices. However, ongoing uncertainty looms over the industry, as potential tariffs from the US government could disrupt market dynamics.
Chinese smartphone makers drove much of the growth, with brands like Xiaomi, Oppo, Vivo, and Transsion achieving significant success in low- and mid-range markets, particularly in China, Europe, and Africa. Xiaomi claimed the third spot for the quarter and the year, achieving the highest year-over-year growth among the top five manufacturers.
Market rebound in 2025
Apple and Samsung maintained the top two positions in Q4 and for the year even if they witnessed YoY declines.
“This past quarter was particularly remarkable for Chinese vendors, who shipped their highest combined volume ever, representing 56% of global smartphone shipments in Q4,” said Francisco Jeronimo, vice president for EMEA Client Devices at IDC.
Demand for foldable smartphones has declined despite heavy promotions. Vendors are now redirecting resources toward integrating artificial intelligence (AI) technologies into devices.
“Numerous vendors are prioritizing new AI advancements as AI becomes more prominent in higher-end devices,” said Anthony Scarsella, research director for Client Devices at IDC.
The market is expected to grow in 2025, though at a slower pace as demand stabilizes.